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Dispute being handled by Ombudsman - Mediation?

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  • 27-09-2013 11:47am
    #1
    Boom_Bap
    Moderators, Music Moderators, Society & Culture Moderators Posts: 25,734 Mod ✭✭✭✭


    I currently have an open case with the Financial Ombudsman in relation to my mortgage.
    Not going to go into too much detail, the essence is that I've been paying X amount fixed interest rate since drawdown, but Y amount fixed interest (for the first 5 years) was on my Loan Offer. X being greater than Y.

    The Ombudsman has gathered all relevant info, but I got a letter offering Mediation.

    Is this something worth part-taking in, or has anybody any experience with it?

    Or am I way too vague in my description?


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    #2
    Ciarrai76
    Moderators, Recreation & Hobbies Moderators, Regional South Moderators Posts: 9,367 Mod ✭✭✭✭Ciarrai76


    Boom_Bap wrote: »
    I currently have an open case with the Financial Ombudsman in relation to my mortgage.
    Not going to go into too much detail, the essence is that I've been paying X amount fixed interest rate since drawdown, but Y amount fixed interest (for the first 5 years) was on my Loan Offer. X being greater than Y.

    The Ombudsman has gathered all relevant info, but I got a letter offering Mediation.

    Is this something worth part-taking in, or has anybody any experience with it?

    Or am I way too vague in my description?

    they do this first, they offer the option of a mediation with the other party and both have to accept to this for it to happen. If one doesn't or they don't hear back from them, then it moves onto investigation. I am in dispute with AvantCard and they ignored the request for mediation, so its now in the investigation stage. You don't have to accept it, but as I was advised here recently, it will look better if you do accept.


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    #3
    peteb2
    Registered Users Posts: 1,813 ✭✭✭peteb2


    I had a problem with the bank over re-instatement of my tracker. I said no to mediation. Because they maintained they were 100% correct as to their position. So what would the advantage of mediation be? It would be unlikely to change their mind. If it was a service issue I would agree to mediation. But if not, forget it OP. Just go to investigation. And there's no bad reflection on not taking mediation.


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    #4
    Boom_Bap
    Moderators, Music Moderators, Society & Culture Moderators Posts: 25,734 Mod ✭✭✭✭Boom_Bap


    In my case I'm not sure what mediation would offer. The bank are either right or wrong in my situation, no middle ground.

    So if I did go to mediation and they offered me something to fix the situation, I wouldn't be happy unless it was full reimbursement. With mediation i might not get this, but with the Ombudsman's decision, I would get full reimbursement.

    I think I shall not part-take.


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